Tronix (TRX), is the native cryptocurrency of the Tron platform. TRON is used to interact with DApps in the TRON ecosystem, for staking, and for governance.
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A brief history
Founded in 2017 by a Singapore non-profit organization, the Tron Foundation, Tron aims to host a global entertainment system and to be the infrastructure of the decentralized web. It powers an ecosystem of decentralized applications (DApps) by offering high throughput, high scalability, and high availability. The Tron network relies on a Delegated-Proof-of-Stake (DPoS) consensus mechanism to secure the blockchain. Similar to a proof-of-stake consensus mechanism, DPoS allows users to earn passive income whenever they stake their holdings in a network wallet. However, unlike a PoS system, only elected nodes can approve blocks of transactions on Tron. In the Tron ecosystem, the community elects 27 Super Representatives every six hours for this vital task. These representatives are chosen by the community of users staking their TRX. In addition to super representatives, users can operate as witness nodes, full nodes and Solidity nodes. Witness nodes propose blocks and vote on protocol decisions, full nodes broadcast transactions and blocks, and Solidity nodes sync blocks from full nodes and provide APIs. It should also be noted that there are no transaction fees for TRX, and the network is able to support 2000 of these feeless transactions every second.
TRX in practice
As mentioned previously, TRX can be used for staking purposes to passively earn income. Users stake their TRX at a 1:1 ratio. The more they stake, the more TRON Power they earn. TRON Power is what the community uses to vote for Super Representatives, and after three days, a user can choose to convert their TRON Power into TRX. Additionally, TRX can be used to directly support content creators as Tron believes it is important to reward these creators for their efforts.